Just a FYI be prepared for it to sell at a discount,Jay- I have seen people buying land notes for 12%-15% yield which is CRAZY and they are going to eventually lose their shirt once they go into default and the land value is repriced.Thank you for the info.

If you're near a medical and/or law school, monthly rentals are preferred by those who are preparing for board exams over vacation rentals as well as by visiting professors. 

If they pass the personal smell test, I go to step 2.2.

Then test the market and try to elicit tenant interest.

To qualify, taxpayers must meet specific criteria demonstrating that they are real estate professionals who materially participate in their rental activities.How to Navigate the Rules:Step 1: Identify your real property trades or businessesHere is a list of activities that are considered to be a real property trade or business:RedevelopmentLeasingConversionConstructionReal property developmentReconstructionOperationRentalBrokerageManagementAcquisitionIf you participate in multiple of these activities, you may be able to combine them making it easier to meet the material participation hour requirements.Step 2: Demonstrate material participation in real property trades or businessesThere are seven tests to determine if you demonstrate material participation.

She reset her front door code and then locked up without testing that her new code worked.

It offers a learning curve that prepares you for your own property investments and builds a brand that people trust.

You have to be prepared for the worst, worst case scenario, the house has to be demolished. 

There's a to unpack here - preparing the property, pictures & listing, finding a management company, taxes, regulations for the area etc.

This 5 year plan allows me to test multiple different strategies of REI, learning lots along the way, and help me figure out what my "niche" is.Just thinking out loud here haha but I appreciate your comments to inspire me to further think through my real estate journey!